The Dow Jones Industrial Average surpassed 20,000 for the first time ever last week, reaching an all-time high. Investors remain optimistic about future economic growth and appear to be encouraged from the start of earnings season. In addition to rising stock prices, a number of dividend stocks raised their dividends.
Specifically, ten notable dividend stocks increased their payouts over the last week, including three financial services providers, two railroad operators, a large industrial gas producer and a major apparel manufacturer.
Here are ten dividend stocks increasing payouts.
Canadian National Railway (USA) (NYSE:CNI) rewarded shareholders with a 10% raise to its quarterly dividend, increasing it by a penny from 37.5 cents per share to 41.25 cents. Shareholders of record as of Mar. 10 will receive their higher dividends on Mar. 31 from the railroad operator. CNI shares will be ex-dividend on Mar. 8.
CNI Dividend Yield: 1.80%
Charles Schwab Corp (NYSE:SCHW) announced a 14% raise to its quarterly dividend, bringing its payout up from 7 cents per share to 8 cents. The financial services provider will send its higher dividends out on Feb. 24 to shareholders of record as of Feb. 10. SCHW shares will trade ex-dividend on Feb. 8.
SCHW Dividend Yield: 0.66%
Fidelity National Information Servcs Inc (NYSE:FIS) increased its quarterly dividend by 12%, raising its payment to 29 cents per share from 26 cents. The financial services technology provider will pay shareholders of record as of Mar. 17 on Mar. 31. The stock’s shares trade ex-dividend on Mar. 15.
FIS Dividend Yield: 1.46%
J B Hunt Transport Services Inc (NASDAQ:JBHT) raised its quarterly dividend by a penny from 22 cents per share to 23 cents, representing a 5% increase. The transportation and logistics business will pay out its higher dividends to shareholders of record as of Feb. 10 on Feb. 24. JBHT shares will trade ex-dividend on Feb. 8.
JBHT Dividend Yield: 0.93%
Praxair, Inc. (NYSE:PX) raised its quarterly dividend by 5%, increasing it from 75 cents per share to 78.75 cents. The industrial gas supplier will pay its higher dividend to shareholders of record as of Mar. 7 on Mar. 15. PX shares will trade ex-dividend on Mar. 3.
PX Dividend Yield: 2.63%
S&P Global Inc (NYSE:SPGI) increased its quarterly dividend by 14% to 41 cents per share from 36 cents. Shareholders of record as of Feb. 24 will receive dividends from the provider of financial ratings and data on Mar. 10. The company’s shares will go ex-dividend on Feb. 22.
SPGI Dividend Yield: 1.36%
Norfolk Southern Corp. (NYSE:NSC) announced a 3% increase to its quarterly dividend, raising it from 59 cents per share to 61 cents. Dividends will be paid from the rail transportation company on Mar. 10 to shareholders of record as of Feb. 3. NSC shares become ex-dividend on Feb. 1.
NSC Dividend Yield: 2.04%
Hanesbrands Inc. (NYSE:HBI) moved its quarterly dividend higher by four cents, increasing it by 36% from 11 cents per share to 15 cents. The apparel manufacturer will pay its higher dividend to shareholders of record as of Feb. 14 on Mar. 7. HBI shares trade ex-dividend on Feb. 10.
HBI Dividend Yield: 2.58%
Magellan Midstream Partners, L.P. (NYSE:MMP) increased its quarterly dividend by 2%, raising its payment from 83.75 cents per share to 85.5 cents. Shareholders of record as of Feb. 3 will receive dividends from the energy transportation services company on Feb. 14. MMP shares will be ex-dividend on Feb. 1.
MMP Dividend Yield: 4.24%
Arthur J Gallagher & Co (NYSE:AJG) grew its quarterly dividend from 38 cents per share to 39 cents, representing a raise of 3%. The insurance broker will pay out its higher dividends to shareholders of record as of Mar. 3 on Mar. 17. AJG shares are expected to trade ex-dividend on Mar. 1.
AJG Dividend Yield: 2.87%
As of the time of this writing, Simply Safe Dividends was long FIS.